Comparison

GoldenPi vs Stable Bonds

GoldenPi settles bonds into the demat you already have and sells G-secs, T-bills, SGBs, tax-free and 54EC bonds alongside corporate bonds; Stable Bonds opens a CDSL demat for you inside the Stable Money app and markets selling anytime with zero exit fee, subject to conditions in its terms. GoldenPi is active on both exchanges and was fined ₹4.5 lakh by SEBI in 2025, while Stable runs on NSE only after closing its BSE platform on 27th Nov 2025.

Verified 17th Oct 2026

Lean to GoldenPi if

You want bonds in the demat you already hold, or government securities, SGBs, tax-free and 54EC bonds from the same platform.

Full GoldenPi review

Lean to Stable Bonds if

You already use Stable Money for FDs and accept a Stable demat in return for a stated, conditional selling route.

Full Stable Bonds review

Side by side

	GoldenPi	Stable Bonds
Legal entity	GoldenPi Securities Pvt Ltd (CIN U65990KA2022PTC164941), a wholly owned subsidiary of GoldenPi Technologies Pvt Ltd source	Stable Broking Pvt Ltd (formerly Stable Wealth Pvt Ltd), CIN U65990KA2023PTC170330 source
Group or backers	Founded 2017 by Abhijit Roy and Samir Baran Pratihar; Zerodha's Rainmatter has invested. Oxyzo Financial Services announced a 100% acquisition on 19th May 2026 (about ₹42.4 cr share swap); closing not confirmed. source	Wholly owned subsidiary of Stable-Alpha Technologies Pvt Ltd (Stable Money). $25 mn pre-Series C led by Peak XV in Feb 2026; founders Saurabh Jain and Harish Reddy. source
SEBI registration	INZ000310732 (stock broker), NSE member 90331, BSE member 6809 source	INZ000314637 (stock broker), NSE member 90363; CDSL DP registration INDP7912025 source
NSE OBPP status	Enabled, with enablement dated 31st Dec 2025 in the list as on 14th Oct 2026 (the file does not explain the late date) source	Enabled since 20th Mar 2024 (list as on 14th Oct 2026) source
BSE OBPP status	Active since 19th Apr 2023 source	Inactive: voluntary closure of OBPP business with effect from 27th Nov 2025 (BSE enabled 18th Oct 2023) source
Where your bonds sit	In your own existing demat; no GoldenPi DP is disclosed source	In a demat Stable Broking opens and maintains for you with its own CDSL DP source
Minimum investment	₹10,000 for corporate bonds, ₹1,000 for FDs source	Marketed as ₹100; live minimums on 17th Oct 2026 were about ₹10,000 (₹9,965 to ₹10,074) on some bonds and about ₹1 lakh on others source
Fees and markup	No transaction charge per its FAQ. Spread inside the price is not disclosed. source	Zero brokerage advertised; strike-off additional YTM is a brokerage waiver per T&C. Third-party reviews say a spread is embedded in the price. source
Yield shown as	Not disclosed source	YTM source
Selling before maturity	Sell on BSE or NSE yourself, or ask GoldenPi's team to help find a buyer. No fee stated, no buyback promise. source	Marketed as sell anytime with zero exit fee; T&C say a sale is not guaranteed, some bonds have lock-ins, and a spread or penalty may apply after a zero-penalty period source
Settlement	Through the exchange clearing corporations, T+1 or T+2 per GoldenPi source	NSE RFQ through the clearing corporation; funds go only to the clearing corporation account; T+ cycle not stated source
Credit range on shelf	AAA to BBB (CRISIL, ICRA, CARE, India Ratings), corporate bond yields of 8% to 14%, per GoldenPi source	Ratings not shown on homepage cards. Yields ran from 4.75% to 11.90% on 17th Oct 2026. source
NRI access	Not disclosed source	Not disclosed source
Play Store (India)	4.1 from 125 ratings, read 17th Oct 2026 source	4.6 from 45,610 ratings (Stable Money app, FDs and bonds), read 17th Oct 2026 source
App Store (India)	4.3 from 30 ratings, read 17th Oct 2026 source	4.73 from 4,320 ratings, read 17th Oct 2026 source
SEBI or exchange actions	₹4.5 lakh in total (₹2 lakh on the company, ₹2.5 lakh on five directors), order dated 31st Jul 2025 or reported 1st Aug 2025, for trades outside RFQ and ads run without BSE approval source	No SEBI order against Stable Broking found as of 17th Oct 2026. Not the Stable Investments (Berkelium Technologies) named in SEBI's Nov 2024 interim order. source

Same bonds, which one shows the higher yield?

5 bonds were on both. GoldenPi showed the higher yield on 4, Stable Bonds on 1. On average GoldenPi was 4 basis points higher. A higher yield on the same bond means a lower price. Read on 17th Oct 2026; quotes move daily, so check both apps before you buy.

Bond	GoldenPi	Stable Bonds	Higher
Navi Finserv · INE342T07668	10.40%	10.75%	Stable Bonds
Finnable · INE14H407157	11.75%	11.55%	GoldenPi
Muthoot Capital · INE296G07333	9.70%	9.50%	GoldenPi
Namra · INE229U07186	11.10%	11.00%	GoldenPi
Adani Enterprises · INE423A07534	8.50%	8.45%	GoldenPi

Every bond on both platforms, by company: prices.

How they differ

Where do your bonds sit?

GoldenPi settles bonds into your own existing demat, and its FAQ says the bonds stay there, with interest paid to your bank, even if GoldenPi shuts. Stable Broking opens and maintains a CDSL demat for you through its own depository participant. TradingQnA users report that holding a second demat can end Basic Services Demat Account (BSDA) eligibility.

What do you pay?

GoldenPi's FAQ says it does not charge customers for any transaction. Stable advertises zero brokerage, and its terms say the struck-off Additional YTM shown on a bond comes from a brokerage waiver; third-party reviews say Stable's margin is embedded in the price. Neither publishes the spread inside the yield it shows, and SEBI's disclosure list for bond platforms has no line for it.

Can you sell early?

GoldenPi tells sellers to place the bond on BSE or NSE or ask its team to help, with no fee stated and no buyback. Stable's homepage promises selling anytime with zero exit fee, but its terms say a sale is not guaranteed and depends on a buyer, allow lock-ins on some bonds, let a spread or penalty apply once a zero-penalty period ends, require a DDPI, and let Stable switch the option off near a record date or on negative issuer news.

What is on the shelf?

GoldenPi states a corporate range of AAA to BBB at 8% to 14%, from ₹10,000, plus G-secs, T-bills, SDLs, SGBs, NCD IPOs, tax-free and 54EC bonds, and FDs as a distributor. Stable listed over 100 bonds on 17th Oct 2026: NBFC and microfinance NCDs up to 11.90%, SDLs of 3 states, a Government of India bond and PSU bonds at 4.75% to 4.80%, with no ratings on its homepage cards. It markets a ₹100 start, but its cheapest live bonds cost about ₹10,000. NRI terms for neither platform were disclosed on the pages read.

Regulatory record and ownership

SEBI fined GoldenPi ₹2 lakh and five directors ₹2.5 lakh, reported 1st Aug 2025, for trades outside the RFQ platform and ads run without BSE approval; GoldenPi's own register shows complaints rising from 21 in FY23-24 to 125 in FY25-26. Oxyzo announced on 19th May 2026 that it would buy GoldenPi; closing was not confirmed by 17th Oct 2026. No SEBI order against Stable Broking was found, and it is a different company from the Stable Investments named in SEBI's interim order of 18th Nov 2024. Stable closed its BSE OBPP business from 27th Nov 2025 without giving a reason and remains enabled on NSE.

Questions people ask

Is GoldenPi or Stable Money better for buying bonds?

Neither wins on every count. GoldenPi uses your existing demat and carries more government products; Stable opens its own demat and offers a conditional sell route. SEBI fined GoldenPi ₹4.5 lakh in 2025, and no order against Stable Broking was found.

Does Stable Money charge brokerage on bonds?

Stable advertises zero brokerage, and third-party reviews say its margin sits inside the price. GoldenPi also charges no transaction fee, and neither publishes its spread.

Can I sell bonds early on GoldenPi or Stable Bonds?

GoldenPi has no buyback; you sell on the exchange or ask its team to find a buyer. Stable markets selling anytime, but its terms say a sale is not guaranteed and a spread or penalty can apply after a zero-penalty period.